Ford Motor Co. and Toyota Motor Corp. have agreed to jointly develop hybrid technology for light trucks, a move that comes as federal regulators finalize plans to double fuel economy requirements through 2025. Hit the jump to read the rest of the story.
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The companies today jointly announced a memorandum of understanding and expect a formal agreement to be signed next year. The new hybrid system will be introduced in Ford and Toyota rear-wheel drive SUVs and light trucks later this decade, when tougher fuel economy rules for big pickups will take effect.
The two automakers also agreed to work together on developing next-generation telematics and other in-vehicle Internet-based services.
“This agreement brings together the capability of two global leaders in hybrid vehicles and hybrid technology to develop a better solution more quickly and affordably for our customers,” said Derrick Kuzak, Ford’s vice president of product development.
Kuzak said the work would take place at the two companies’ research facilities around the globe. He added that at this point there were no further plans for cooperation between Ford and Toyota.
The companies did not release financial details or identify which vehicles will be involved. Takeshi Uchiyamada, a Toyota executive vice president, said the company will “compete harder than ever in the spirit of making great cars.”
“We expect to create exciting and socially beneficial technologies with Ford, and we can do so because our two companies have enough experience to create a synergy effect in hybrid technology and in telematics,” Uchiyamada said.
The Ford and Toyota product development teams first met in April, Kuzak said.
The next step of the project is a feasibility study, which will begin soon, to determine the scope of the collaboration, he said.
Uchiyamada, speaking through a translator, said both companies are eager to start. While they “would like to know the timing now,” they must take the appropriate steps before full development can begin.
They play to begin development work next year.
